NEW YORK ( TheStreet) -- The ex-dividend date for Cato Corporation (NYSE: CATO) is tomorrow, December 15, 2011. Owners of shares as of market close today will be eligible for a dividend of 23 cents per share. At a price of $24.50 as of 9:30 a.m. ET, the dividend yield is 3.6%.

The average volume for Cato has been 184,700 shares per day over the past 30 days. Cato has a market cap of $706.2 million and is part of the services sector and retail industry. Shares are down 4.5% year to date as of the close of trading on Tuesday.

The Cato Corporation operates as a specialty retailer of fashion apparel and accessories in the southeastern United States. The company has a P/E ratio of 11.7, below the average retail industry P/E ratio of 12.1 and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Cato as a buy. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, reasonable valuation levels, increase in net income, notable return on equity and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Cato Ratings Report.

See our dividend calendar or top-yielding stocks list.
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